Brokerages expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to report sales of $118.84 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Northwest Bancshares’ earnings, with estimates ranging from $118.10 million to $119.57 million. Northwest Bancshares posted sales of $108.37 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The company is scheduled to report its next earnings report on Monday, October 28th.
On average, analysts expect that Northwest Bancshares will report full-year sales of $466.06 million for the current fiscal year, with estimates ranging from $464.20 million to $467.91 million. For the next financial year, analysts expect that the company will post sales of $478.86 million, with estimates ranging from $470.80 million to $486.91 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, July 22nd. The savings and loans company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Northwest Bancshares had a net margin of 21.50% and a return on equity of 8.31%. The company had revenue of $115.97 million during the quarter, compared to analysts’ expectations of $117.86 million.
Institutional investors have recently bought and sold shares of the stock. CWM LLC bought a new stake in Northwest Bancshares during the second quarter worth about $38,000. Krane Funds Advisors LLC bought a new stake in Northwest Bancshares during the second quarter worth about $60,000. Resources Investment Advisors Inc. lifted its stake in Northwest Bancshares by 23.8% during the first quarter. Resources Investment Advisors Inc. now owns 4,566 shares of the savings and loans company’s stock worth $77,000 after purchasing an additional 879 shares during the last quarter. US Bancorp DE lifted its stake in Northwest Bancshares by 150.4% during the second quarter. US Bancorp DE now owns 4,970 shares of the savings and loans company’s stock worth $88,000 after purchasing an additional 2,985 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Northwest Bancshares during the second quarter worth about $97,000. Institutional investors and hedge funds own 72.05% of the company’s stock.
Northwest Bancshares stock traded up $0.20 during midday trading on Friday, hitting $16.61. 365,356 shares of the company’s stock were exchanged, compared to its average volume of 454,813. Northwest Bancshares has a 52-week low of $15.50 and a 52-week high of $18.81. The stock has a 50-day moving average price of $17.14 and a two-hundred day moving average price of $17.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market cap of $1.77 billion, a P/E ratio of 16.28, a PEG ratio of 2.20 and a beta of 0.65.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Wednesday, July 31st. Northwest Bancshares’s payout ratio is 70.59%.
About Northwest Bancshares
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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